By  Updated on Mon Jul 14, 2014

Banco Popular Becomes Popular Community Bank: 5 Things to Know for the Week

Banco Popular Becomes Popular Community Bank: 5 Things to Know for the Week

Zol87 / Flickr source

The biggest bank in Puerto Rico — Banco Popular — completed its rebranding plan for its branches in the United States. To cater to more non-Hispanic customers, the bank’s new name in the U.S. is now “Popular Community Bank.”

  • C1 Bank, the Florida-based bank rolled out a unique 5-year CD that requires a $1 million deposit to receive a Mercedes-Benz, is taking advantage of the increased exposure with an enticing offer. Until the end of the month, C1 Bank is paying $5 per month to new customers who open the bank’s free checking account.
  • A new update for Mint.com’s mobile applications (iOS) welcomes a popular feature from its website-native service: the ability to manage budgets. Mint.com users can now create and edit budgets and split single transactions into multiple categories for more details spending tracking. Previously, users could only track their budgets that were created through the website.
  • Starting Monday, Banco Popular bank branches in New York and New Jersey will open as Popular Community Bank — marking the end of the bank’s rebranding phase. Customers can expect new signage but nothing changes to their accounts. The new name is part of an expansion strategy to attract more non-Hispanic customers.
  • Installing an ATM in one’s own home is becoming a trend. Or is it? One professional basketball player installs an ATM in his home so that guests didn’t have to ask him to borrow money when they were gambling. Depositing cash is probably not a frequent transaction for that ATM.
  • Campus debit cards, which serve as campus identification and offer payments capabilities, are taking the spotlight after a recent report finds that some of these cards violate federal law. This new way to market to students (after the Credit CARD Act) may draw the attention of the Consumer Financial Protection Bureau, which is already focusing on prepaid cards.
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